Japan watchdog orders partial business suspension at scandal-hit Prudential

TOKYO - Japan's financial watchdog on Friday ordered Prudential Life Insurance Co. to partially suspend its business over misconduct by sales staff, including improperly receiving money from customers.

The suspension of operations related to new insurance contracts will run from Tuesday through Jan. 31, with the Financial Services Agency determining that Prudential Life Insurance had failed to adequately manage and supervise its sales employees and that internal systems designed to prevent misconduct were ineffective.